Trade Setups for 7-19
- stevenplace
- August 19th, 2009
TGT – Released to the Public
Trade Rationale: Looking for a 2nd day play. Bull flag continuation pattern, we want to be long on a break of 44.50.
Trade Strategy: This will be a short term trade, and we can use some front month contracts to really leverage up. I’m looking at Aug 43 Calls for 1.50-1.60.
Risk Management: Only put on this trade if we break and hold above 4450. If price stays below 4450 for more than 15 minutes, get out. Initial stops will be at 44.34. We’re currently looking at an opening print of 44.05 on the open. If price does not get back into that range within the first 30 minutes, no trade.
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